Bajaj Holdings shares rise 0.38 per cent in Wednesday's trading session

Shares of Bajaj Holdings & Investment Ltd. rose 0.38 per cent to Rs 5842.95 in Wednesday's trade as of 10:26AM (IST) even as the benchmark Nifty ruled at 17489.6, up 91.55 points.

The scrip had closed at Rs 5820.95 in the previous session. The stock quoted a 52-week low of Rs 4299.8 and a high of Rs 7377.6. The company quoted a market-cap of Rs 64783.4 crore on the BSE.

On BSE, 833 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 14.07 times its trailing 12-month EPS of Rs 413.61 per share and 1.3 times its book value. The return on equity (ROE) stood at Rs 9.46.

Key Financials
For the quarter ended 31-Dec-2022, Bajaj Holdings & Investment Ltd. reported consolidated sales of Rs 116.03 crore, down 5.36 per cent from the same quarter a year ago. The company reported 23.6 per cent YoY growth in net profit at Rs 1285.65 crore for the latest quarter.

Technical indicators
The relative strength index (RSI) of the stock stood at Wednesday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30.

Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.